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Rank Group announces 3% increase in full-year dividend

Investment Tools Ltd.
Rank Group announces 3% increase in full-year dividend

The Rank Board is pleased to recommend a final dividend of 5.5 pence per share to be paid on 29 October 2019 to shareholders on the register on 20 September 2019. This will take the full year dividend to 7.65 pence per share, up 3% on the previous year. 

Other financial highlights include:

All businesses delivering LFL revenue growth in H2

H2 operating profit of £42.2m, up 20%, following a tough first half in which operating profit was £30.3m

The transformation programme launched in December 2018 is driving improved Group performance and new ways of working

£10.7m of savings delivered in the year with an additional £9.3m from these initiatives flowing into 2019/20

New operating model launched for Grosvenor Casinos, resulted in £8.2m of savings in 2018/19 and a further £11.3m in 2019/20 (pre-wage increases)

Mecca offer enhanced by initiatives including new games, side bets and extending session lengths resulted in revenue growth in H2

Strong growth in Digital NGR of 23% including contribution from YoBingo acquired in May 2018. Excluding YoBingo, Digital NGR grew by 11%

£28.6m of exceptional costs, includes an £8.0m provision for technical non-compliance with National Minimum Wage Regulations

Agreed terms to sell five Mecca bingo clubs to a UK bingo operator

On 31 May 2019, announced agreement on the terms of an offer to acquire Stride Gaming plc to create one of the UK's leading online gaming businesses

Full year dividend up by 3%

Companies mentioned

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